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Day One Wednesday 2 November 2005
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| 08.00 | Registration and morning refreshments
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| 08.30 | Opening address by chairman
Gavin Betty
Managing Director
Peregrine Securities, South Africa |
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| A GLOBAL PERSPECTIVE |
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| 08.45 | Keynote Address: Assessing current trends and themes in global and emerging markets
- How these may evolve
- Examining clear and present threats to global markets
- Geopolitical threats to emerging markets
- Trading a new paradigm this decade
David Murrin, Chief Investment Officer
Emergent Asset Management, United Kingdom |
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| 09.30 | Keynote address: Absolute returns: The risk and opportunities of hedge fund investing
- Differences between absolute and relative return investment philosophy
- Risk-adjusted returns now matter to the long-term investor
- Is the current hedge fund phenomenon a new bubble or a new paradigm?
Alexander Ineichen, Head AIS Research
UBS, Switzerland |
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| 10.00 | Keynote address: Global macro picture and implications for AIS
- Economic slowdown: can AIS deliver?
- Bull on long/short or bear on arbitrage
- How a US$ rally may increase global macro returns in 2006
Michel Girardin, Senior Economic Advisor
Union Bancaire Privee, Switzerland |
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| 10.30 | Morning refreshments
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| THE CASE FOR INVESTMENT |
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| 11.15 | Investment case for institutional investment in domestic hedge funds
- Overview of the South African hedge fund industry
- The role of hedge fund indices
- Portfolio construction considerations
Simon Peile, Head
African Harvest Alternative Investments, South Africa |
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| 11.45 | Keynote address: Investing fallacies
- How many funds are needed for diversification?
- Portfolio optimisation
- Leverage and risk
- Drawbacks of Sharpe Ratio
- Inadequacy of drawdown history as reflection of risk
- Misconceptions about correlation
- Why stop-losses are not alwaysa good risk management tool
- Hedge Fund index biases
- When pro forma numbers are and are not meaningful
Jack Schwager, Senior Portfolio Manager
Fortune Asset Management, United States of America |
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| 12.30 | Networking lunchoen sponsored by Fortis: Prime Fund Solutions
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| 14.00 | Investor breakaway: Hedge funds education and allocation of hedge funds into portfolios
- The role of hedge funds and absolute returns in pension fund investment
- Committee training
- Trustee training
Carla Fiford, Head of Asset Management
Worldwide Capital, South Africa
Eric Nkosi, Chief Executive Officer
Principles Financial Consultants, South Africa |
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| 14.00 | Industry breakaway: prime broking - a South Africa perspective
Warren Chapman, Managing Director
Peregrine Equities, South Africa
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| 14.45 | Keynote address: Current trends in the approach of pension funds to hedge fund investing
Professor Edwin T Burton, Trustee
Commonwealth of Virginia Retirement System, United States of America
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| 15.30 | Speed networking and afernoon refreshments
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| 16.15 | Panel discussion: A regulatory update
Jurgen Boyd, Head: Collective Investment Scheme
Financial Services Board, South Africa
Pieter Koekemoer, Head of Retail
Coronation Fund Managers, South Africa
Association of Collective Investment Schemes
Leon Campher, Executive Director
Investment Management Association Of South Africa
Panel moderated by:
Diane Bouwmeester, Senior Associate
Werksmans Attorneys, South Africa
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| FUND OF FUNDS |
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| 17.00 | Opportunities in fund of hedge funds investing
- Key criteria in evaluating funds of hedge funds
- Qualitative and quantitative comparison of generalist, specialist and index-type funds of hedge funds
- Implications of growth in the fund of hedge funds business
- How do funds of hedge funds fit into a portfolio
- Current patterns of allocations to funds of hedge funds and how investors will adapt their future applications
Remo Kraenzlin, Managing Partner
Primores, Switzerland |
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| 17.30 | Panel discussion: Hedge funds, fund of funds and active and passive investing
Derrick Roper, Executive Director
Novare, South Africa
Carl Liebenberg, Director
Clade Investment Management, South Africa
Jacques Du Plessis, Chief Investment Officer
Orange Capital, South Africa
Moderator:
Simon Hopkins, Managing Director
Fortune Asset Management, United Kingdom |
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| 18.15 | Closing remarks by chairperson and close of day one
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| 18.15 | Cocktail reception
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Day Two Thursday 3 November 2005
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| 08.30 | Opening address by chairperson
David Blair
Chairman
Custom House Administration & Corporate Services, Ireland |
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| INVESTORS - BRIDGING THE GAP |
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| 08.45 | Marketing foreign hedge funds to domestic investors
- Marketing foreign hedge funds to domestic investors
- The regulatory and taxation aspects
John Gillmer, Director
Deneys Reitz Attorneys
Professor Peter G. Surtees, Tax Consultant
Deneys Reitz Attorneys
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| 09.15 | Bridging the information gap between hedge fund managers and investors
- Sources of hedge fund data
- How to be 'seen' by investors
- Choosing and using hedge fund databases
- Performance reporting - what do investors expect to see?
- Performance analysis - how can investors use performance to enhance due diligence?
Frank Smith, Principle and co-founder
Strategic Financial Solutions, United States of America
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| 09.45 | Tailor made leverage solutions for hedge fund investors
Christophe Baurand
Global Head of Sales - Structured Alternative Investments
SG Corporate & Investment Banking, France |
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| 10.15 | Morning refreshments
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| 11.00 | Hedge funds survey
Gary Pickering, Partner in charge if KPMG's Investment Management and Funds
practice in South Africa
KPMG, South Africa |
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| RISK |
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| 11.30 | Keynote address: Structured products: Optimising hedge fund / fund of funds risk through capital protected solutions
- Evolution of capital protected products over the past 10 years
- Mechanics of the popular capital protected products
- Numeric examples, comparisons and simulations
- Market trends and other innovations
Yoshiki Ohmura, Head of Alternative Risk Trading
Bank Julius Baer & Co., Switzerland |
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| 12.00 | Keynote address: Establishing optimal performance risk strategy
- Latest risk management tools for fund and strategy performance measurement
- Testing performance measurement
- Developing a framework to compare risks and performance of different fund of funds
Jacob H Schmidt
Founder & Director of Research
Schmidt Research Partners |
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| 12.30 | Networking luncheon
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| AFRICAN OPPORTUNITIES |
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| 14.00 | Why and how would a hedge fund operate in North Africa
- What are the investment opportunities?
- What are the existing hedging instruments?
- What are the major developments with regards to stock lending?
Khaled Majeed, Chief Executive Officer
MENA Capital, United Kingdom |
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| FUND MANAGEMENT |
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| 14.30 | Panel discussion: Issues facing South African hedge fund managers
Hedge Fund Manager
Praesidium Capital Management, South Africa
Jason Forssman, Hedge Fund Manager
Ploutos Capital, South Africa
Heiko van Wyngaarden, Chief Investment Officer
Oryx Investment Management, South Africa
Damon Hoff, Hedge Fund Manager
Capricorn Fund Managers, South Africa
Moderator:
Jan van Niekerk, Chief Investment Officer
Citadel, South Africa
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| 15.15 | Afternoon refreshments
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| 15.45 | Generating positive returns in bull and bear markets
- Death of the tracking error - how to manage money in a post-relative world
- Methodology and process for optimum upside/downside capture ratios
- Downside market risk management
Robby Hilkowitz, Managing Director
TriAlpha Investment Advisors, United Kingdom
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| 16.15 | Adopting a pro-active approach to hedge fund investing
- Evolution of the international hedge fund industry
- Beyond the beauty parade: case studies and research anecdotes
- Differentiators going forward
Lara Price, Head of Research
Octane, United States of America |
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| 16.45 | Jim Rogers videoconference from New York City
'How I and my family are approaching the next 20 or 30 years'
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| 17.30 | Panel discussion: 2006 outlook
Simon Peile, Head
African Harvest Alternative Investments, South Africa
St John Bungey, Director
Edge Capital, South Africa
Kevin Shames, Director
Alpha Asset Management, South Africa
Ian Hamilton, Chief Executive Officer
Investment Data Services, South Africa
Moderated by the chairperson |
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| 18.15 | Closing remarks by the chairperson and close of conference
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